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A Firm Produces 10 Widgets That They Sell for $15

Question 11

Multiple Choice

A firm produces 10 widgets that they sell for $15 each. The average variable cost for the production of 10 widgets is $13/unit. The fixed costs for this firm equal $20. What is the value of this firm's profits?


A) -$20
B) -$2
C) 0
D) $20

Correct Answer:

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